MISSISSIPPI
Jul/Aug 2017 DEALER
DOWNLOAD the NEW MSIADA App and Save Big!
Independent Dealers Steer Through Challenges
Hackers Target Dealer Social Media Posts
Predicting Auto Retail’s Top 3 Trends in an Unpredictable 2017s PLUS Q&A with NIADA’s Steve Jordan Online Dealer Software Dealer Websites Fully Responsive Feeds to Third Party Websites Social Media Integration Craigslist AD Generator Google Friendly Free Domain Registration Accept Online Payments Online Credit Applications Website Lead Notifications Carfax Integration Dealer Management Auto Check Integration Software Embeded YouTube Videos Print Forms on Plain Paper Wayne Reaves DMS Integration Calculate Deal Numbers Easy to Manage Internet Based Automatic Backups Automatic Updates Prospect Manager Fully Responsive Websites E-mail and Text from DMS Inventory Management Cash and Wholesale Deals Buy Here Pay Here Bank Financing Related Finance Company Collections and Repossessions Accounting Reports Route One Integration Wayne Reaves Website Integration CALL NOW WayneReaves.com 800.701.8082 MISSISSIPPIMississippi Independent Auto Dealers Association Online Dealer Software Dealer Websites Jul/Aug 2017 Fully Responsive DEALER Feeds to Third Party Websites Social Media Integration Craigslist AD Generator Google Friendly The magazine of the MISSISSIPPI INDEPENDENT Free Domain Registration AUTO DEALERS ASSOCIATION MSIADA.ORG Accept Online Payments 1705 Old Whitfield Road, Suite A Pearl, MS 39208 Online Credit Applications T (601) 939 - 9866 | F (601) 939 - 9882
Website Lead Notifications CHAIRMAN OF THE BOARD Steven Watkins • Watkins Auto Sales, Inc. Carfax Integration Jackson, MS Dealer Management PRESIDENT Auto Check Integration Bryan Morris • Long Beach Auto Auction, Inc. Long Beach, MS Software Embeded YouTube Videos VICE PRESIDENT (NORTHERN REGION) DP Danna • Selecta Motors, LLC Print Forms on Plain Paper Wayne Reaves DMS Integration Indianola, MS VICE PRESIDENT (CENTRAL REGION) Calculate Deal Numbers Easy to Manage Will Etheridge • Net Auto, Inc. Richland, MS Internet Based VICE PRESIDENT (SOUTHERN REGION) IN THIS ISSUE Bobby Seal • Jackson Avenue Auto Sales Inc. Automatic Backups Pascagoula, MS 2 | Download the NEW MSIADA 11 | Auction Directory SECRETARY App and Save Big! 12 | Q&A with NIADA’s Steve Automatic Updates Bentley Nolan • Nolan Brothers Motor Sales Tupelo, MS 3 | Industry Cheers as CFPB Jordan Prospect Manager Fully Responsive Websites TREASURER Reform Measure Passes 14 | The CARLAWYER© Thomas Conner • Heritage RV Center E-mail and Text from DMS Olive Branch, MS House 15 | Pre-Licensing Calendar 6 | 10 Bad Habits You Must 15 | Predicting Auto Retail’s Top Inventory Management EXECUTIVE DIRECTOR | EDITOR Eliminate from Your Daily 3 Trends in an Unpredictable Andrew Caldecott Cash and Wholesale Deals MAGAZINE COORDINATOR & AD SALES Routine 2017 Professional Mojo 8 | Independent Dealers Steer 16 | Service Provider Directory Buy Here Pay Here [email protected] Through Challenges 19 | U.S. States Could Not Set PRODUCTION EDITOR | COPY WRITING Bank Financing Professional Mojo 9 | Hackers Target Dealer Social Self-Driving Car Rules Under [email protected] Media Posts Republican Plan Related Finance Company OFFICE MANAGER Nikki Miles 10 | NIADA Welcomes Hudson 20 | New Members and Collections and Repossessions into Ring of Honor Renewals For more information about the MIADA 11 | BE IN THE SPOTLIGHT: 20 | MIADA Membership Accounting Reports topics addressed in this issue or for additional copies please contact MIADA, MIADA is looking for YOUR Application Route One Integration (601) 939 - 9866. content. Copyright 2017 Wayne Reaves Website Integration CALL NOW MIADA MISSISSIPPI DEALER Jul/Aug 2017 | 1 WayneReaves.com 800.701.8082 executive director |
Download the NEW MSIADA ADVERTISER INDEX 5 Ace Motor Acceptance Corp. App and Save Big! 13 Manheim Mississippi We have been working for over a year to develop an app IBC NextGear Capital for the association and it is now complete. Most of the state 18 Professional Mojo associations will be following our lead on this, and the auc- tions like the new system much better. IFC Wayne Reaves Software 2 West Insurance Center, Inc. We will be adding new features to the app soon. All of the buy/sell coupons are already there, and we have more than ______doubled the dollar amount. We will be adding even more in TO ADVERTISE WITH MIADA the coming months. To receive a copy of the Media Kit for MISSISSIPPI DEALER magazine, The coupon books we sent out in the past will no longer please send a request via email to be available, so we encourage you to download the app [email protected] or EXECUTIVE DIRECTOR from either the Apple App Store or Google Play Store. You call (866) 611-2715 ext. 1. Andrew Caldecott will need to search for MSIADA to download it. Once it is downloaded you will need to scroll to the bottom to find MIADA is a not-for-profit industry “Membership Rewards” and register. Your user name cannot be your email address and trade association that has been the voice your password must be at least eight characters long with a capital letter and a number. of Mississippi’s independent auto deal- ers since 1968. MIADA is committed to Once you have registered, I will get an email and I will need to approve it on my end. One representing, educating, and informing other thing you will need is your membership number. If you don’t know it, you can call Mississippi’s most successful indepen- our office. We realize some of you may not use the latest technology and may still be using dent motor vehicle dealers. Dealers turn a flip phone, so we will print new coupon booklets, but these coupon books will look much to MIADA to provide them solutions different from those that we have sent out in the past. and answers to business related ques- tions and consumer related questions. As always, if you have any questions or if you have a concern that we may assist with, please don’t hesitate to call the office. We will be happy to help in any way that we can. Our primary purpose is to identify and address the legal and legislative issues Hope you have a great summer, that confront the used car industry in Mississippi, but we do much more. Through MIADA’s impressive network of a wide variety of companies who sup- port our industry, our members enjoy pre-negotiated discounts on products and services they need to be successful AUTO DEALERS INSURANCE in the car business. We encourage you SERVING MIADA SINCE 1989 • DEPENDABLE SERVICE • COMPETITIVE RATES to check out the Dealer Service Provid- er Directory. These services include, but Truth & Lending E&O Coverage & Title E&O Coverage False Pretense • Worker’s Compensation • Garage Liability are not limited to auto auctions, insur- Odometer Coverage • Commercial Property • Repair Shops ance companies, legal advice, and ad- Dealers Open Lot • Dealer & Title Bonds • Life & Health vertising. All members receive a coupon book containing about $5,000 in real CALL OUR OFFICE TO SAVE MONEY! discounts. LEE DIXON, CIC & CHARLES GORDON LICENSED AGENTS If you would like information about membership and the benefits associated WEST INSURANCE CENTER, INC. with becoming a part of MIADA, please RELIABILITY 800-898-1030 • WestInsuranceCenter.com don’t hesitate to give us a call.
2 | MIADA MISSISSIPPI DEALER Jul/Aug 2017 Industry Cheers as CFPB Reform Measure Passes House By Nick Zulovich, Senior Editor, Auto Remarketing
While lawmakers from opposing parties their “hard work and dedication to ensur- ability to discount credit in the showroom. either cheered or jeered the vote tally, in- ing that American consumers have access The also requires the bureau to: dustry advocates from the banking, finan- to the credit they need and deserve.” • Provide public notice and comment cial services and dealership communities before issuing any additional auto-fi- on Thursday all applauded the U.S. House AFSA continued by stating, “The CHOICE nancing guidance of Representatives for passing H.R. 10, the Act would make important strides in rein- • Make publicly available all studies, Financial CHOICE Act. ing in the (CFPB) and significantly reduc- data, methodologies or other informa- ing the regulatory burden placed on finan- tion relied upon to produce the guid- The measure is a comprehensive financial cial services by the Dodd-Frank Wall Street ance reform bill that includes what one group Reform and Consumer Protection Act.” • Study the costs and impacts of the called “significant and much-needed re- guidance. forms” to the Consumer Financial Protec- AFSA added that it submitted a letter of sup- tion Bureau (CFPB). port in May and will continue to work with NADA also pointed out the CHOICE Act Congress as the bill moves to the Senate. brings the CFPB under the regular congres- The CHOICE Act passed the House by a sional appropriations process for the first 233-186 vote with party lines primarily di- In another statement sent to SubPrime time, which is another reform NADA has viding the representatives on this matter, Auto Finance News, the National Automo- long supported. which now will be in the hands of the up- bile Dealers Association appreciated the per chamber beginning with the U.S. Sen- House’s actions and those “significant and “Access to affordable credit is essential to ate Banking Committee. much-needed reforms” because the orga- customers and their dealers,” NADA pres- nization believes changes will bring relief ident and chief executive officer Peter In a statement sent to SubPrime Auto Fi- for consumers facing the prospect of higher Welch said. “Chairman Hensarling, mem- nance News, the American Financial Ser- costs for financing vehicle purchases. bers of the House Financial Services Com- vices Association (AFSA) said it especially mittee, and the members of Congress who congratulates House Financial Services NADA highlighted the measure’s advance- supported H.R. 10 and worked to include Committee Chairman Jeb Hensarling, a ment would nullify the CFPB’s guidance on these vital consumer protections should be Republican from Texas and all the mem- indirect auto financing, which the associa- commended for their efforts to keep auto bers who worked on the CHOICE Act for tion said attempted to eliminate a dealer’s Continued on next page
MIADA MISSISSIPPI DEALER Jul/Aug 2017 | 3 COMPLIANCE
Continued from previous page “(Thursday’s) House vote is an important “We are hopeful the Senate will now take financing affordable and available to con- step toward making much-needed regula- up financial regulatory reform and strong- sumers everywhere. I look forward to the tory reforms that will allow banks to better ly urge the consideration of the benefits of Senate taking timely actions to help cement serve their customers and communities. We a commission at the CFPB. Congress can these consumer protections into law.” applaud Chairman Hensarling and members provide relief by implementing policies of the House Financial Services Committee geared toward growing the economy and NADA chairman Mark Scarpelli added, for their continuing efforts to fix financial boosting consumer confidence,” Hunt went “America’s franchised new-car dealers have rules that are holding back the U.S. econ- on to say. always been on the side of our customers, omy, and doing little to enhance safety and which is why we have so strenuously op- soundness. We look forward to working Lawmaker reaction posed the CFPB’s anti-consumer guidance with lawmakers in the House and Senate as that would have raised the cost of car and this process moves forward,” Nichols said. Not surprisingly, Hensarling was quite truck loans, and pushed otherwise-cred- pleased with Thursday’s outcome since he’s itworthy customers out of the auto credit “While the Financial CHOICE Act con- been pushing the Financial CHOICE Act market altogether. tains a number of reforms ABA members for more than a year. have long supported, it would have been “And we will continue to be on the side of much stronger had a provision to repeal “Every promise of Dodd-Frank has been our customers by urging Congress to get this the Durbin Amendment been retained in broken,” Hensarling said. “Fortunately legislation across the finish line, and by con- the bill. We will continue to let lawmak- there is a better, smarter way. It’s called the tinuing to promote the voluntary NADA/ ers know that a vote to keep the Durbin Financial CHOICE Act. It stands for eco- NAMAD/AIADA Fair Credit Compliance Amendment on the books is a vote for nomic growth for all, but bank bailouts for Program that effectively manages fair-credit government price controls and against con- none. We will end bank bailouts once and risk while preserving discounts on credit for sumers,” Nichols continued. for all. We will replace bailouts with bank- consumers,” Scarpelli went on to say. ruptcy. We will replace economic stagna- Consumer Bankers Association president tion with a growing, healthy economy.” The measure also has been a primary focus and CEO Richard Hunt also was glad the of the National Independent Automobile measure passed in the House, but he reiter- “We will make sure there is needed regu- Dealers Association’s advocacy efforts and ated his concerns about the matter, as well. latory relief for our small banks and cred- was one of NIADA’s top legislative priorities it unions, because it’s our small banks and as part of its annual Day on the Hill during “We appreciate the House of Representa- credit unions that lend to our small busi- the National Leadership Conference and tives’ effort to provide regulatory reform via nesses that are the jobs engine of our econ- Legislative Summit in Washington D.C. last the Financial CHOICE Act and thank House omy and make sure the American dream is September. Financial Services Committee Chairman not a pipe dream,” Hensarling added. Jeb Hensarling for remaining committed to “NIADA and its members have long advo- making relief a priority. We also appreciate Meanwhile, Rep. Maxine Waters, a Cal- cated for the need to reform the over-bur- the reforms the CHOICE Act made to sec- ifornia Democrat and ranking member densome regulatory framework created by tion 1071 of the Dodd-Frank Act and to of House Financial Services Committee, the Dodd-Frank Act, including the unac- arbitration,” Hunt said. “CBA and its mem- continued her vehement opposition to this countability and overreach of the Consumer bers, who represent the nation’s largest retail measure. Financial Protection Bureau,” NIADA chief banks, still believe any reforms made to the executive officer Steve Jordan said. CFPB should begin with the restructuring of “It’s shameful that Republicans have voted to the bureau’s leadership. do the bidding of Wall Street at the expense “We applaud the efforts of the House of of Main Street and our economy. They are Representatives, especially Chairman Hen- “In order to provide balance and stability setting the stage for Wall Street to run amok sarling, to bring about these necessary to consumers and the economy, the CFPB and cause another financial crisis. I urge my changes. We look forward to working with should be led by a five-person bipartisan colleagues in the Senate not to move on this lawmakers in the Senate to move the bill for- commission to ensure it is protected from deeply harmful bill,” Waters said. ward,” Jordan went on to say. potential political influence,” Hunt contin- More upbeat assessments of Thursday’s de- ued. “Congress has support from constitu- At least one Senate member agrees with Wa- velopments came from the banking world, ents, as a recent Morning Consult poll we ters. That’s Sen. Sherrod Brown, an Ohio too. Rob Nichols is president and CEO of the commissioned shows voters prefer a bipar- Democrat and ranking member of the Sen- American Bankers Association. tisan commission over a single director by ate Banking Committee. Brown criticized a 3-1 margin.” Republicans who “rammed the bill through” the House Financial Services Committee
4 | MIADA MISSISSIPPI DEALER Jul/Aug 2017 COMPLIANCE
on a party-line vote last month to trigger More opposition to House actions Thursday’s actions. While industry advocates saw passage of the “This partisan, dangerous legislation would Financial CHOICE Act as a positive devel- once again leave families, seniors, and ser- opment, a host of consumer organization vicemembers at the mercy of predatory frowned on the development. Here are a lenders, and put taxpayers back on the hook couple of examples: to pay for Wall Street’s greed and reckless- ness,” Brown said. “Democrats have shown — Vanita Gupta, president and CEO of The we’re willing to work with Republicans to Leadership Conference on Civil and Hu- WhaT’S InCLudEd: tailor the rules where it makes sense, but man Rights: “This is the wrong choice act. not if it means killing the reforms that have It’s wrong for consumers, and wrong for our made the financial system safer and fairer.” economy. It is nothing more than a repack- aging of Republican efforts over the past six Funding for During a Senate Banking Committee hear- years to deregulate the financial services ing conducted on the same day as the Finan- industry, enable payday lending and other Receivables cial CHOICE Act passed through the House, predatory services, and unlearn the lessons Sen. Mike Crapo, an Idaho Republican who of the 2008 financial crisis. It is so radical chairs the committee, didn’t mention the bill that even President Trump was only willing You Collect or by name, but discussed the topic since the to endorse it in ‘several key respects.’ The bill We Collect hearing was entitled: “Fostering Economic would not only undercut the pro-consumer Growth: The Role of Financial Institutions policies issued by the Consumer Financial in Local Communities.” Protection Bureau — and in the case of pay- Floorplan Lines day lending, take away the CFPB’s authority Crapo cited a Harvard University study that altogether — it would also take away the in- he said, “appropriately described communi- dependence of the CFPB itself, and replace Simplified Insurance ty banking by stating, ‘Their competitive ad- it with political pressure from Congress and vantage is a knowledge and history of their well-heeled industries.” Tracking customers and a willingness to be flexible.’ Unfortunately, the operating landscape fac- — Yana Miles, senior legislative counsel for ing these institutions has changed dramati- The Center for Responsible Lending: “This Reports Package cally over the last several years. bill puts big banks and predatory lenders back in charge of our economy. Dodd-Frank “The industry has become increasingly con- and the creation of the Consumer Financial Training centrated, and that concentration has accel- Protection Bureau has created a fairer fi- erated since the passage of Dodd-Frank,” nancial marketplace for consumers and has Crapo continued. “The regulatory rules kept financial institutions accountable to the Bulk Roll in for dictated from Washington are often contra- public. This basic accountability is especially Existing Contracts dictory, complex and confusing, and they important for low-wealth families and com- sharply restrict community lenders’ ability munities of color who were hit hardest by to be flexible. the financial crisis. The Trump Administra- Cash Flow from tion’s recent support of this bill contradicts Payments “I am concerned that in a rush to implement the president’s promise to drain the swamp new regulation, regulators have often ig- and protect people from bad financial prac- nored the cumulative effect of the rules, and tices on Wall Street. Instead of giving free that there is a lack of coordination among passes to loan sharks like payday lenders, them,” he went on to say. “We want our na- Congress and the president should make tion’s financial institutions to be well-capi- consumer protection a top priority. CRL and talized and well-regulated, but they should communities across the country — includ- not be drowned by unnecessary compliance ing veterans, faith leaders, consumers and costs. Financial regulation should promote others — will fight the Wrong Choice Act safety and soundness while enabling a vi- at every turn and continue to stand up for 704-882-7100 ext. 7509 brant and growing economy.” economic justice and inclusivity.” n AcemotorAcceptAnce.com MIADA MISSISSIPPI DEALER Jul/Aug 2017 | 5 personal development | 10 Bad Habits You Must Eliminate from Your Daily Routine By Dr. Travis Bradberry, President at TalentSmart
You are the sum of your habits. When you The self-control required to develop good start making you sleepy. By the evening, allow bad habits to take over, they dramat- habits (and stop bad ones) also serves as the your brain doesn’t expect any blue light ex- ically impede your path to success. The foundation for a strong work ethic and high posure and is very sensitive to it. challenge is bad habits are insidious, creep- productivity. Self-control is like a mus- ing up on you slowly until you don’t even cle—to build it up you need to exercise it. Most of our favorite evening devices—lap- notice the damage they’re causing. Practice flexing your self-control muscle by tops, tablets, and mobile phones—emit breaking the following bad habits: short-wavelength blue light brightly and Breaking bad habits requires self-control— right in your face. This exposure impairs and lots of it. Research indicates that it’s Using your phone, tablet, or computer in melatonin production and interferes with worth the effort, as self-control has huge bed. This is a big one that most people don't your ability to fall asleep as well as with implications for success. even realize harms their sleep and produc- the quality of your sleep once you do nod tivity. Short-wavelength blue light plays an off. As we’ve all experienced, a poor night’s University of Pennsylvania psychologists important role in your mood, energy level, sleep has disastrous effects. The best thing Angela Duckworth and Martin Seligman and sleep quality. In the morning, sunlight you can do is to avoid these devices after conducted a study where they measured contains high concentrations of this blue dinner (television is OK for most people as college students’ IQ scores and levels of light. When your eyes are exposed to it long as they sit far enough away from the self-control upon entering university. Four directly, the blue light halts production of set). years later, they looked at the students’ the sleep-inducing hormone melatonin and grade point averages (GPA) and found that makes you feel more alert. In the afternoon, Impulsively surfing the Internet. It takes self-control was twice as important as IQ in the sun's rays lose their blue light, which al- you 15 consecutive minutes of focus be- earning a high GPA. lows your body to produce melatonin and fore you can fully engage in a task. Once
6 | MIADA MISSISSIPPI DEALER Jul/Aug 2017 | personal development you do, you fall into a euphoric state of in- commitment honors your existing com- thing great if you don’t get started and give creased productivity called flow. Research mitments and gives you the opportunity to your ideas time to evolve? Author Jodi Pi- shows that people in a flow state are five successfully fulfill them. Just remind your- coult summarized the importance of avoid- times more productive than they otherwise self that saying no is an act of self-control ing perfectionism perfectly: “You can edit a would be. When you click out of your work now that will increase your future self-con- bad page, but you can’t edit a blank page.” because you get an itch to check the news, trol by preventing the negative effects of Facebook, a sport’s score, or what have you, over commitment. Comparing yourself to other people. this pulls you out of flow. This means you When your sense of pleasure and satisfac- have to go through another 15 minutes of Thinking about toxic people. There are tion are derived from comparing yourself continuous focus to reenter the flow state. always going to be toxic people who have a to others, you are no longer the master of Click in and out of your work enough way of getting under your skin and staying your own happiness. When you feel good times, and you can go through an entire day there. Each time you find yourself thinking about something that you’ve done, don’t al- without experiencing flow. about a coworker or person who makes low anyone’s opinions or accomplishments your blood boil, practice being grateful for take that away from you. While it’s impos- Checking your phone during a conver- someone else in your life instead. There sible to turn off your reactions to what oth- sation. Nothing turns people off like a are plenty of people out there who deserve ers think of you, you don’t have to compare mid-conversation text message or even your attention, and the last thing you want yourself to others, and you can always take a quick glance at your phone. When you to do is think about the people who don’t people’s opinions with a grain of salt. That commit to a conversation, focus all your matter when there are people who do. way, no matter what other people are think- energy on the conversation. You will find ing or doing, your self-worth comes from that conversations are more enjoyable and Multitasking during meetings. You should within. Regardless of what people think of effective when you immerse yourself in never give anything half of your attention, you at any particular moment, one thing them. especially meetings. If a meeting isn’t worth is certain—you’re never as good or bad as your full attention, then you shouldn’t be they say you are. Using multiple notifications. Multiple attending it in the first place; and if the notifications are a productivity nightmare. meeting is worth your full attention, then Bringing It All Together Studies have shown that hopping on your you need to get everything you can out of phone and e-mail every time they ping it. Multitasking during meetings hurts you By practicing self-control to break these bad for your attention causes your produc- by creating the impression that you believe habits, you can simultaneously strengthen tivity to plummet. Getting notified every you are more important than everyone else. your self-control muscle and abolish nasty time a message drops onto your phone or habits that have the power to bring your ca- an e-mail arrives in your inbox might feel Gossiping. Gossipers derive pleasure from reer to a grinding halt. productive, but it isn’t. Instead of working other people’s misfortunes. It might be at the whim of your notifications, pool all fun to peer into somebody else’s personal What other bad habits should people abol- your e-mails/texts and check them at des- or professional faux pas at first, but over ish? Please share your thoughts in the com- ignated times (e.g., respond to your e-mails time, it gets tiring, makes you feel gross, ments section below, as I learn just as much every hour). This is a proven, productive and hurts other people. There are too many from you as you do from me. n way to work. positives out there and too much to learn from interesting people to waste your time Dr. Travis Bradberry is the award-winning Saying “yes” when you should say “no.” talking about the misfortune of others. co-author of the #1 bestselling book, Emo- Research conducted at the University of tional Intelligence 2.0, and the cofounder of California in San Francisco shows that Waiting to act until you know you’ll suc- TalentSmart, the world's leading provider the more difficulty that you have saying ceed. Most writers spend countless hours of emotional intelligence tests and training, no, the more likely you are to experience brainstorming their characters and plots, serving more than 75% of Fortune 500 com- stress, burnout, and even depression, all and they even write page after page that panies. His bestselling books have been trans- of which erode self-control. Saying no is they know they’ll never include in the lated into 25 languages and are available in indeed a major self-control challenge for books. They do this because they know more than 150 countries. Dr. Bradberry has many people. “No” is a powerful word that that ideas need time to develop. We tend to written for, or been covered by, Newsweek, you should not be afraid to wield. When it’s freeze up when it’s time to get started be- BusinessWeek, Fortune, Forbes, Fast Com- time to say no, emotionally intelligent peo- cause we know that our ideas aren’t perfect pany, Inc., USA Today, The Wall Street Jour- ple avoid phrases like “I don’t think I can” and that what we produce might not be any nal, The Washington Post, and The Harvard or “I’m not certain.” Saying no to a new good. But how can you ever produce some- Business Review.
MIADA MISSISSIPPI DEALER Jul/Aug 2017 | 7 industry insight| Independent Dealers Steer Through Challenges By Arlena Sawyers, Correspondent, Auto Remarketing
More off-lease vehicles in the market, many Toyota Corolla and Honda Civic, will drop “With depreciation up, the longer these of which don’t match consumer demand. so low their bargain prices will appeal to units sit on the lot, the more money they’re value-seeking consumers. losing,” Paris said. More manufacturer recalls that stymie in- dependent dealers’ ability to move vehicles “I think there will be one-time deals avail- Dealers should also keep an eye on interest quickly. able for independents that they’ve not seen rates and credit, said both French and Goy- in a long time,” French said. al, because lenders have started tightening More concern over interest rates and tight- their credit standards. ening credit. Anil Goyal, senior vice president of au- tomotive valuation and analytics at Black “It’s particularly acute in the subprime area, It’s more than enough to make the retail Book, said there could be opportunities for because that portfolio stands a chance of road ahead anything but smooth for inde- independent dealers to acquire used luxu- losing more,” French said. pendent dealers, say dealers themselves and ry and near-luxury cars at favorable prices, industry experts who monitor used-vehicle because they are sold as new cars mainly Opportunities for BHPH sales and prices. through leases. Goyal said the changing credit environment Though used-vehicle volume is relatively “More of those cars are likely to flow into represents new opportunities for buy-here, tight and their prices relatively high, change the auctions and into the hands of indepen- pay-here dealers to pick up business from is coming. dent dealers,” Goyal said. “That could be a customers squeezed out by lenders cutting sweet spot for them because they haven’t back on subprime. It is widely accepted throughout the indus- had access to that product before.” try that used-vehicle volume will grow and Interest rates aren’t having a major impact their prices will drop. According to J.D. Power Valuation Services, on credit now, because the increases have formerly known as NADA Used Car Guide, been relatively small, Goyal said, but it rep- Ed French, owner of AutoProfit, said in- off-lease vehicle volume in 2017 is expected resents “another straw on the camel’s back.” dependent dealers are savvy professionals reach 3.4 million units, up from 3.1 million who know how to navigate rough business in 2016 and 2.3 million in 2015. “Lending gets pulled back, interest rates terrain. But he still advises them to proceed continue to rise and the debt burden of that with caution. When adding used vehicles up to five years consumer is going to increase,” Goyal not- old from other sources such as rental and ed. “They have to pay more on credit card “In the future, used supply could be high- commercial fleets and trade-ins to off-lease loans, they have to pay more on auto loans er than demand; it’s on the horizon, but it volume, an estimated 14 million used cars and more on home equity loans.” hasn’t happened yet,” said French, whose and trucks will enter the market this year. consultancy helps dealers improve their That’s up from 13.2 million in 2016 and But for the time being, used-vehicle pric- used-vehicle profitability. 11.8 million in 2015, Power data reveals. es are still relatively high, said Steve Mat- thews, owner of three used-car dealerships Sedans and small cars are in the bullseye Used-vehicle prices are expected to tumble in North Carolina, and Frank Fuzy, owner because they were leased in high volumes 6 percent in 2017, compared to a 4 percent of Century Motors of South Florida Inc., in in recent years and are becoming plentiful slide in 2016, said Power senior automotive Pompano Beach, Fla. in the used-car market. But consumer de- analyst David Paris. mand favors SUVs and crossovers. “It’s costing us much more money and it’s Heavy incentives to prod new-vehicle sales getting harder to find them,” said Fuzy of Small cars, big value also exert pressure on used-vehicle values. the 10- to 15-year-old, 20,000- to 40,000- mile vehicles he buys to meet his custom- Though urging dealers “to be careful,” Paris advises dealers to stock clean vehicles ers’ demand. He is also the current National French believes that prices of 2014, 2015 that don’t require a lot of reconditioning Independent Automobile Dealers Associa- and 2016 small cars such as Nissan Sentra, and will sell quickly and profitably. Continued on page 10
8 | MIADA MISSISSIPPI DEALER Jul/Aug 2017 Hackers Target Dealer Social Media Posts Reprinted from F&I and Showroom Helion Automotive Technologies has is- volves identifying specific people for attack, passwords when prompted. If this was a sued an urgent data security warning for studying their social media posts to learn real attack and customer information was auto dealers: Hackers are now planting their interests and activities, and then creat- compromised, the consequences for that malware inside of social media posts. ing a message or offer that appeals to them. dealership may have been thousands of dollars paid out in credit monitoring for If an employee takes the bait and clicks on Nachbahr cited the example of a recent customers, investigations and lawsuits. the social media post (e.g. Facebook and breach at the Pentagon. It was caused when Twitter messages and public postings), ac- the wife of an employee clicked on a Twitter “That test was a good sample that revealed cording to the firm, the malware is down- link that promised a great deal for a fam- auto dealerships are very vulnerable to this loaded onto the employee’s computer and ily-friendly vacation. She had previously type of attack and need to do a better job at may compromise the entire organization’s been exchanging messages with friends educating their employees,” said Nachbahr. network. Security software and firewalls over what they should do with their chil- cannot prevent this type of attack, accord- dren over the summer. Although the wife To help prevent this type of attack, Nach- ing to Erik Nachbahr, president and CEO was at home at the time, the hackers ac- bahr recommends counseling employees of Helion and an Auto Dealer Today con- cessed the Pentagon employee’s computer against clicking on links in social media tributor. via a shared home network, and once the posts and messages from their computers or employee was back at the Pentagon, ac- personal devices while at work or at home, “This is the same spear phishing scheme cessed the network from his computer. require them to change their network login that hackers have been using successfully passwords every 90 days, keep social media in targeted email messages for several years Auto dealership employees are ideal targets profiles private, and don’t accept friend or now,” Nachbahr said. “The problem is that for spear phishers looking to steal person- connection requests from people they don’t although most employees have been told ally identifiable information (PII) and bank know. and know not to click on emails from peo- account numbers. ple they don’t know, they don’t think twice Every auto dealership should have cyber when it comes to clicking on a message or Helion recently conducted a phishing test liability insurance, Nachbahr added, and offer in their Facebook feed. They are more at an auto dealership by sending emails to dealers should install software updates, also trusting in a social media environment.” 125 employees. Three employees clicked known as patches, to Microsoft Windows, on the emails and were taken to a website Internet Explorer and all software applica- Spear phishing is a type of attack that in- where they entered their user names and tions on every PC on a regular basis. n
MIADA MISSISSIPPI DEALER Jul/Aug 2017 | 9 national highlight| NIADA Welcomes Hudson into Ring of Honor By Auto Remarketing Staff executive officer Steve Jordan said. “He has been recognized as an expert in his field over and over again, with accolades again, just too numerous to mention.
“We are proud of being his longstanding relationship with NIADA and its member dealers, so many whom have been educated and assisted over the years by his contribu- tions and expertise in so many areas — le- gal, regulatory, compliance, buy-here, pay- here and more,” Jordan continued. n
Independent Dealers Steer Through Challenges Continued from page 8 tion chairman of the board. “Sometimes we have to pay double (guidebook) value.” Respected automotive attorney Tom Hud- Hudson’s career spans more than four de- It sometimes takes Matthews longer to prep son of Hudson Cook has been selected as cades, from a start-up law practice in 1973 a vehicle for retail than he would like be- the newest member of the National Inde- to becoming a founding partner of a firm, cause manufacturer recalls seem to “pop pendent Automobile Dealers Association’s a CEO and editor of a service that reports up” all too often on the late-model, used ve- prestigious Ring of Honor. on legal issues in the auto finance and lease hicles he buys at auction after he gets them industry, among other roles. to his dealerships. He is committed to hav- Hudson became the 29th auto industry ing safety-related recalls repaired before he leader to be inducted into the Ring of Hon- As an attorney, Hudson received the Sen- retails his vehicles. or, NIADA's highest award for non-dealers. ator William Proxmire Lifetime Achieve- The award was announced during the Na- ment Award from the American College of That means paying two people to drive a tional Leadership Awards Banquet at The Consumer Financial Services Lawyers in vehicle 30 to 45 minutes to a franchise deal- Mirage in Las Vegas, part of the 71st annual 2009 and served as chairman of the Amer- ership for repairs and paying two people to NIADA Convention and Expo. ican Bar Association Financial Services pick it up once the repairs are completed. Committee's specialty area on personal That doesn’t include floorplan costs and ve- NIADA’s Ring of Honor recognizes allied property finance. hicle depreciation that accrue in the mean- industry leaders who have contributed to time. the professionalism and growth of the auto- As an author, he's written the CARLAW se- mobile industry through outstanding per- ries and other books as well as numerous “It might be a week or two before you get formance and leadership. articles as the acclaimed CARLAWYER that car back and that’s costing you mon- and as editor in chief of Counselor Library. ey,” said Matthews, whose stores specialize “I’m honored to be named to the Ring of He is also a frequent speaker at auto indus- in vehicles no more than 5 years old with Honor and to be recognized by an organi- try events, including the NIADA Conven- fewer than 75,000 miles. zation like NIADA that does so much to tion and Expo as well as Used Car Week. support dealers across the country,” Hud- “That’s a big problem that independents son said. “Tom is a true industry icon,” NIADA chief face.” n
10 | MIADA MISSISSIPPI DEALER Jul/Aug 2017 | auction directory
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With conference season getting into full felt like they were either targets or could be I will tell you another interesting perspec- swing for independent dealerships, includ- targets of this unpredictable regulatory envi- tive from a guy who said for the first time ing the National Independent Automobile ronment. Now I think they see that the tide he had remembered where used-car values Dealers Association’s annual conference, is really turning. It’s really encouraging to see actually dropped during the spring market. BHPH Report (Auto Remarketing’s sister confidence grow as a result of that. His experience was car values were dropping publication) connected with Steve Jordan, during the spring market when that tradi- NIADA’s chief executive officer. Whether it’s proposed tax cuts for businesses tionally just doesn’t happen. I also thought or repealing and replacing Obamacare, there’s that was pretty interesting. I think much of Below is a Q&A that ran as part of a larger also been talk about taking two regulations the data also supports it. feature story in the May-June issue of BHPH off the books when one is added, I think there Report. is good reason to see confidence soaring. How much stronger is NIADA’s standing on Certainly our quarterly business confidence Capitol Hill now as compared to when you How exciting was it to see the mood of would support that. We’re seeing some of the took the lead at NIADA? member dealers improve significantly as biggest jumps in confidence than we’ve seen noted in the first-quarter survey results? since we put this survey in place. Jordan: I would say member engagement in matters of legislative and government affairs Steve Jordan: I’ve got to tell, it’s been very ex- Without revealing the specific person, has significantly increased over the past four citing to see this confidence grow as much as what was the most interesting story from or five years. I think that’s primarily because it has after being so cautious for as long as it a dealer about his/her operation you heard NIADA has worked really hard to try to cre- has. It seems like every presidential election during the past 12 months? ate new ways for dealers to tell their story on cycle always brings this level of uncertainty Capitol Hill and around the country. I think within businesses, voters and even the fi- Jordan: I’m not sure I’ve got just one story, that makes a really big difference. nancial markets. It seems like everyone takes but I can tell you something that’s been a this wait-and-see attitude about what’s going consistent story that I’ve been hearing a lot So by extension, NIADA’s voice has gotten to happen after November. In this particu- of dealers talk about and that is the delayed stronger because more dealers are engaging lar case, I think many of our dealers are very tax season. Once the tax season started, the in that kind of narrative. We now have a larger buoyed by the fact a pro-business environ- precipitous decline once it did start was a lit- chorus of voices contributing to the conversa- ment exists in Washington, D.C., now when tle bit interesting. tion in addition to a lot of the things we were it really hasn’t been that way for so long. doing before. I think we have a lot more oppor- Many people knew as telegraphed by the IRS tunity for engagement than we ever have. Our Now you’ve got three branches of govern- that some those initial checks were not go- voice is really growing and that’s very exciting. ment that controlled by seemingly those who ing to be hitting the market until mid to late want to put the interest of small-business February. People knew it was going to be de- It’s definitely been a team effort on that front as owners and taxpayers first. It’s encouraging layed, but once it started, it was almost over we build on some of those past successes but to see a new wave of Congressional leaders as quickly as it began. It was this quick spike look at more ways we can continue to build. in D.C. that understand small businesses in tax season and then it was gone. That’s There’s an old saying in D.C. that if you’re not and understand that taxes that these small one of the most consistent stories I’ve heard at the table, you’re on the menu. I’m happy to businesses pay are really the backbone of this year. report that NIADA is not on the menu. our economy. For so long, our dealers have
12 | MIADA MISSISSIPPI DEALER Jul/Aug 2017 | industry insight
For the dealers who navigated the challenges of islative arena and regulatory world in D.C. see is a very specific plan to put in place the past couple of years, how strong of a posi- and around the country. I think we’re doing between NIADA and our state associations tion do they have now to possibly enjoy quality a really good job and we’ve got a lot of great in continuing to build that bridge to work results for the remainder of 2017 and beyond? momentum. But what you’re going to see more collaboratively with our state associa- I think dealers who have weathered the over the next six to eight months is a fo- tions. Not that we don’t already, but I think storm over the last couple of years have a cus on expanding and growing our educa- that’s an important objective, which is to very strong position and should feel pretty tional opportunities for dealers. Specifically work more closely and collaboratively and secure in the position they have in the mar- we’re going to retool and grow our Certified help some of those state associations that ket. There have been so many external fac- Master Dealer program. There’s going to be need help in growing. It will all help to ful- tors that have put pressure on dealer oper- some very specific things coming. We also fill our mission. ations. Whether it’s regulatory compliance have some other things coming to the table or access to capital or having to restructure to support that education goal we have to We would also like to raise about $250,000 your financial relationship as well as sub- serve our dealers. for our political action committee. That’s prime finance companies buying as deep something we’re working on as well. I’ll keep as they have been, it’s all put a lot of pres- Another thing that personally I would like you posted. n sure on dealers to adapt and conform. Not to see and I know our board would like to to mention all of the changes in consumer buying habits, all of the digital and online considerations, how you interact with cus- tomers, there has been a lot to absorb in the last couple of years.
We’re going to continue to see a lot of changes in the industry going forward to meet consumer demand and expectations. Dealers who have been able to navigate a lot of those concerns over the last couple of years should feel pretty confident in their Physical Auctions position. Given some of the dealer busi- Thursdays 9:00AM CT Digital Auctions ness confidence survey results, it looks like TRA 11:00AM CT they’re also starting to see that as well. Specialty Auctions Specialty 11:00AM CT
What are the top three things on your as- Salvage Auctions GM Financial Closed Sale 12:00PM CT Every Other Thursday sociation to-do list you hope to complete Floorplan Financing by the end of the year? Reconditioning 7510 US Hwy 49 N Jordan: First and foremost, we’re focusing Inspections on our convention. One of the biggest pri- Hattiesburg, MS 39402 orities every year is to continue to provide MMR 601.268.7550 a convention platform that meets and ex- ceeds the expectations of our dealers and Manheim.com 866.Manheim members. In short, hosting the largest NIA- DA Convention in our history this June is a major priority. The early returns on our ex- hibit hall and registrations numbers would support that we’ll meet that objective. That’s very exciting.
Thinking about what we’d like to get done before the end of the year, I would say a couple of things. One would be that we’ve talked for so long about reinforcing and ex- panding the position of NIADA in the leg- MIADA MISSISSIPPI DEALER Jul/Aug 2017 | 13 legal news | The CARLAWYER© By Thomas B. Hudson and Nicole F. Munro
Here’s our monthly article on legal develop- Federal Developments explanation of the guidance outlined in an ments in the auto sales, finance and lease earlier OCC Bulletin. “Why should dealers world. Last month’s report was skimpy, and BHPH Dealers, Take Note. On June 8, care about these FAQs?” you ask? The an- this one isn’t much better. The Consumer CFPB director Richard Cordray provided swer is that dealers sell their retail install- Financial Protection Bureau is still fairly some clarity on the status of the CFPB’s ment contracts and leases to national banks quiet, at least on the enforcement side, but debt collector rulemaking by announcing and federal savings associations, and the continues to be active on the superviso- that the CFPB will carve certain “right con- dealers are the sorts of third parties that the ry side. That makes sense, since supervi- sumer, right amount” rules out of the debt OCC is worried about. sion is a lower profile activity less likely to collector rulemaking and instead address draw fire from Congressional Republicans such rules in a separate rulemaking for Case of the Month and other CFPB critics. In any event, this first-party creditors. In its July 2016 Out- month’s article features our “Case of the line of Proposals under Consideration for Check Mark in General Vicinity of Ven- Month,” activity from the CFPB and the debt collectors, the CFPB included a num- dor’s Single Interest Insurance Checkbox Office of the Comptroller of the Currency. ber of proposals that would affect the infor- Not Sufficient to Disclose Premium and Why do we include items from other states? mation shared between creditors and debt Exclude It from Finance Charge: After We want to show you legal developments buyers or third-party debt collectors and buying a car from a dealership, the buyer and trends. Also, another state’s laws might would impose specific, ongoing obligations sued the dealership for violating the Truth be a lot like your state’s laws. If attorneys on debt collectors to ensure that they are in Lending Act by failing to accurately dis- general or plaintiffs’ lawyers are pursuing collecting the right amount from the right close the finance charge. The buyer argued particular types of claims in other states, consumer. Director Cordray explained that that the dealership should have disclosed a those claims might soon appear in your the CFPB has found that these “right con- premium for vendor’s single interest insur- state. sumer, right amount” rules would benefit ance as part of the finance charge, instead from input from all market participants of as part of the amount financed. The trial Note that this column does not offer legal (especially creditors, because they create court granted summary judgment for the advice. Always check with your lawyer to the information about the debt upon which buyer, and the federal appeals court af- learn how what we report might apply to debt collectors rely). Therefore, Cordray firmed. The dealership argued that it pro- you, or if you have questions. said, the CFPB plans to focus its debt col- vided the buyer with sufficient notice un- lector rulemaking on rules that will affect der TILA to exclude the premium from the This Month’s CARLAWYER© debt collection practices and require dis- finance charge. The financing agreement Compliance Tip closures. Cordray anticipates the CFPB will contained a VSI provision with a checkbox, be able to “move forward more quickly” and that provision stated that VSI insur- We usually don’t repeat tips from previ- on the debt collector rulemaking by carv- ance was required, the premium amount, ous articles, but in light of the “Case of the ing out rules that could affect creditors and and that the buyer could choose her in- Month” discussed below, here’s one we have taking up “right consumer, right amount” surance company. However, the appellate offered before – make sure that your com- rules in a separate rulemaking for first-par- court found that the dealership did not puters/printers are entering information ty creditors. comply with the TILA notice requirement on your retail installment contracts, buy- because the VSI provision was not properly ers’ orders and leases in exactly the correct Third Party FAQs? On June 7, the OCC is- checked. While there was an “XX” indicator place. Misalignment of data entry can cre- sued frequently asked questions to supple- in the general vicinity of the VSI provision, ate compliance violations, and these sorts ment OCC Bulletin 2013-29, “Third-Party it was not close enough for a reasonable of compliance violations – ones that apply Relationships: Risk Management Guid- jury to conclude that the box was checked. to every deal you do – make for dangerous ance,” which was originally issued October Further, even if there was ambiguity about class actions. It is often the case that “close” 30, 2013. OCC Bulletin 2013-29 provides whether the box was checked, it could not just won’t cut it. If you have any question guidance to national banks and federal constitute a “clear and specific” disclosure, about whether your alignment is close savings associations for assessing and man- as required by TILA. The court disregarded enough, talk to your lawyer. aging risks associated with third-party the dealership’s argument that the provision relationships. The FAQs provide further provided notice that VSI insurance was re-
14 | MIADA MISSISSIPPI DEALER Jul/Aug 2017 This year, the industry can © confidently and intelligently use The CARLAWYER existing audiences to drive more relevant traffic and capitalize on quired, even if the box was unchecked. See specific shopper intent. Franco v. A Better Way Wholesale Autos, Inc., 2017 U.S. App. LEXIS 8689 (2d Cir. (D. Conn.) May 18, 2017).
So there’s this month’s roundup! Stay legal, and we’ll see you next month. n
Tom ([email protected]) is Of Counsel and Nikki ([email protected]) is a part- ner in the law firm of Hudson Cook, LLP. Predicting Auto Retail’s Top 3 Tom has written several books and is the publisher of Spot Delivery®, a monthly legal Trends in an Unpredictable 2017 newsletter for auto dealers. He is Editor in By Andy MacLeay, Director of Digital Marketing, Dealer.com Chief of CARLAW®, a monthly report of legal developments for the auto finance and leas- ing industry. Nikki is a contributing author We don’t have an 8-ball, a pair of lucky dice, 2. Multi-Channel Advertising to the F&I Legal Desk Book and frequently or even sport cars-themed tarot cards. But if Shoppers are not limiting themselves to one writes for Spot Delivery. For information, there’s one thing we can say about 2017 with device or one source of information. Being visit www.counselorlibrary.com. © Coun- utmost certainty, it’s that it’s going to be an able to track those patterns, learn preferenc- selorLibrary.com 2017, all rights reserved. unpredictable year in automotive retail. es, and target shoppers who’ve demonstrated Single publication rights only, to the Associa- a readiness or likeliness to purchase across tion. (7/17). HC# 4827-7675-0667 A changing marketplace, longer vehicle road multiple devices and sites will allow you to life, possible gas price variations, and a new aim advertising and offers where they will political landscape are all factors with which count most. the auto industry must reconcile this year. This year, digital marketing settles on how But we can predict some things. For instance, to personalize what shoppers are looking for dealers will focus on where they can make and deliver content that is neither irrelevant profits, as they should always do. What deal- nor intrusive. ers won’t make on volume or new car margin PRE-LICENSING could be made with faster turn rate, more ef- 3. Attribution ficient operations, and greater emphasis on You need to know what marketing invest- CALENDAR customer satisfaction, F&I, and service. ments work. Vendors and publishers will need to emphasize quality and value, and Seminar Location With that in mind, here are three more spe- cannot simply post quantitative numbers. cific prognostications to help you, the dealer, In terms of performance, transparency and MIADA Home Office fortify your bottom line no matter what 2017 actual ROI will stop being the exception, and 1705-A Old Whitfield Road brings your way: start being the standard. Pearl, MS 39208 1. Flexible Payment and Financing Options This year, the industry can confidently and Affordability is going to be a huge factor for intelligently use existing audiences to drive 8:00am to 5:00pm shoppers this year. Many shoppers’ purchase more relevant traffic and capitalize on spe- decisions are driven largely by their monthly cific shopper intent. Aug 19 • Sep 16 payment budget and/or access to financing. Oct 21 • Nov 18 Building confidence and transparency into It’s still early in the year, but if what we saw the shopping and deal-making portions of and felt at NADA, and have been hearing Visit msiada.org the process are easier if you embrace a digital from dealers around the country for months, for additional details and retailing strategy. is any indication of the accuracy of these three predictions, then we probably didn’t to register for This year, the industry really figures out how need to bring out the Ouija Board after all. n upcoming courses. to sell a new vehicle online while preserving the customer-dealership relationship.
MIADA MISSISSIPPI DEALER Jul/Aug 2017 | 15 SERVICE
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Floor Planning counselorlibrary.com Rent-A-Wreck/Priceless 850-877-8804 cbfloorplan.com Rent a Car Vehicle Database Searches Waller & Waller 770-321-4409 add123.com City Auto Finance Bob Waller Used Car Rental Company 901-377-6868 601-354-5252 rentalwreck.com Carfax Floor Planning wallerandwaller.com 888-788-7715 cityautofinance.com Service Contract Vehicle History Online Marketing Providers, Warranty carfax.com NextGear Capital Autotrader.com ASC Warranty, Inc. 888-969-3721 800-353-9350 800-442-7116 vPreferred Providers Floor Planning Automotive Classifieds Service Contracts nextgearcapital.com autotrader.com ascwarranty.com MIADA MISSISSIPPI DEALER Jul/Aug 2017 | 17 Your dealership was born to stand out. Why fit in?
Take the Lead in Your Auto Market with Social Media Mojo If your team doesn’t understand the opportunities in social media, doesn’t know what to post or have the time to execute a well-thought out strategy to put your dealership ahead of the pack, you need to call us immediately.
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18 | MIADA MISSISSIPPI DEALER Jul/Aug 2017 | industry insight U.S. States Could Not Set Self-Driving Car Your dealership was born to stand out. Rules Under Republican Plan By David Shepardson, Reuters Why fit in?
California and other states would be barred tration of new technology for aircraft. ed cars turned over to U.S. regulators to be from setting their own rules governing de- "confidential business information." Take the Lead in Your Auto Market with sign and testing of self-driving cars, while The 45-page draft package of 14 bills would federal regulators would be blocked from designate the U.S. National Highway Traffic U.S. Rep. Bob Latta, R-Ohio, who chairs a demanding pre-market approval for autono- Safety Administration as the lead agency for key panel overseeing automobile regulation, Social Media Mojo mous vehicle technology, according to a U.S. regulating self-driving cars, pre-empting called the draft legislation "an important House Republican proposal reviewed by Re- state rules. step in establishing a framework to allow If your team doesn’t understand the opportunities uters on Thursday. innovators to safely develop and test auton- in social media, doesn’t know what to post or States could still set insurance and registra- omous vehicles." He said Republicans want have the time to execute a well-thought out The draft legislation, while far from becom- tion rules but could not use them as a way to "to continue working with all parties in a bi- strategy to put your dealership ahead of the ing law, still represents a victory for General regulate self-driving technologies. Califor- partisan manner as we refine language and pack, you need to call us immediately. Motors, Google affiliate Waymo, Tesla Inc. nia has proposed changes to its self-driving move towards a consensus package." and other automakers and technology com- car rules, but automakers said in April it has panies seeking to persuade Congress and not gone far enough. On Tuesday, a bipartisan trio of U.S. senators Don’t follow the crowd. the Trump administration to pre-empt rules said they planned to introduce legislation to Make the crowd follow you. under consideration in California, New York One of the bills in the proposal would allow remove regulatory roadblocks to the intro- and other states that could limit deployment the U.S. Transportation Department to ex- duction of self-driving cars. of self-driving vehicles. empt up to 100,000 vehicles per year from U.S. federal motor vehicle safety rules, which Mitch Bainwol, head of the Alliance of Auto- The industry also opposed an Obama ad- currently prevent the sale of self-driving ve- mobile Manufacturers, an auto trade group, ministration proposal last year that raised hicles without steering wheels, pedals and told Congress on Wednesday it should professionalmojo.com | 866-611-2715 the possibility of giving regulators the power other human controls. work to eliminate state or local laws that to review and approve self-driving car tech- could "unduly burden or restrict the use of nology before it was put into service, similar Another would declare crash data, other self-driving vehicles in the future." n to the vetting by Federal Aviation Adminis- testing and validation reports from automat- MIADA MISSISSIPPI DEALER Jul/Aug 2017 | 19 may/june new members and renewals |
NEW MEMBERS Best Deals Auto & Salvage City Motor Company of Pearl Exclusive Auto Sales Hudson Auto Jeter Auto Sales Jimco Auto Brokers L&J Auto Sales LLC Martin Enterprise LLC MEMBERSHIP Paragon Dealer Services SF Wholesale Shelby Enterprise LLC Team Motor Company LLC APPLICATION ND Membership dues are $295 your first year. Use your coupon book and other discounts 2LOCATION RENEWALS and the membership pays for itself! We look forward to serving you and helping you A&W Motors grow your dealership in 2016 and beyond. Ace Motor Acceptance Corp America’s Car Mart Inc Please complete the form below and return via mail or fax to the MIADA office or sign Auto Gallery up ONLINE at msiada.org! Auto Mart of Flowood INDUSTRY EXPERTISE Automart Exchange of Flowood Dealership Name ______FOCUSED ON HELPING ME Barker Auto LLC EXPAND MY BUSINESS* Barnes Crossing Auto Sales Owners ______M REOTTO HAHNE | CITY OF CARS, INC. | TROY, MI Brents Auto World Capital City Motors Inc. Car Credit Inc. Physical Address ______Car Smart MS Cars IV LLC City, State, Zip ______Commercial Software Inc. Deans Auto Sales Mailing Address ______Gateway One Lending H&H Wholesale Motors Inc. City, State, Zip ______Holley Auto Center Interstate Auto Office Phone ______Jackson Auto Sales JL Auto Mobile Phone ______JMC Motorsports Landrum Motors Inc Fax Number ______Mid South Auto Outlet Monroe Enterprise Email Address ______Nolan Brothers Motor Sales Perkins Tire & Polaris Payment Method Quality Auto of Collins q Cash q Visa q Mastercard q Check No. ______Redwine Auto Sales Inc. River City Autoplex LLC Credit Card Number ______Exp. ______Select Auto Sales Shoals North Alabama Auto Auction q q Southaven Auto Sales Can associate members contact you for services? Yes No Being able to count on your floor plan provider is huge, and NextGear Capital has never let me down. They helped Twin River Auto Sales me grow my business and have given me opportunities I never would have had without them. It’s no question that Whites Wholesale The Association You Can Count On! through their expert guidance, I had the confidence to open a second location. OTTO HAHNE | CITY OF CARS, INC. Williams Auto MISSISSIPPI INDEPENDENT AUTOMOBILE DEALERS ASSOCIATION Smart. Simple. Fast. | Learn how Otto gets MORE at nextgearcapital.com MSIADA.ORG 1705 Old Whitfield Road, Suite A, Pearl, MS 39208 *This testimonial was received via interview, audio and/or video submission. This testimonial is based on this dealer’s individual experiences, reflecting real life experiences T (601) 939 - 9866 | F (601) 939 - 9882 of a NextGear Capital dealer. NextGear Capital does not claim they are typical results that dealers generally will achieve. This dealer’s experiences may not be indicative of future performance or success of any other dealers. Some of the testimonial has been shortened so the whole message is not displayed due to length and/or relevance. 20 | MIADA MISSISSIPPI DEALER Jul/Aug 2017 ND 2LOCATION
INDUSTRY EXPERTISE FOCUSED ON HELPING ME EXPAND MY BUSINESS* M REOTTO HAHNE | CITY OF CARS, INC. | TROY, MI
Being able to count on your floor plan provider is huge, and NextGear Capital has never let me down. They helped me grow my business and have given me opportunities I never would have had without them. It’s no question that through their expert guidance, I had the confidence to open a second location. OTTO HAHNE | CITY OF CARS, INC.
Smart. Simple. Fast. | Learn how Otto gets MORE at nextgearcapital.com
*This testimonial was received via interview, audio and/or video submission. This testimonial is based on this dealer’s individual experiences, reflecting real life experiences of a NextGear Capital dealer. NextGear Capital does not claim they are typical results that dealers generally will achieve. This dealer’s experiences may not be indicative of future performance or success of any other dealers. Some of the testimonial has been shortened so the whole message is not displayed due to length and/or relevance. Mississippi Independent Automobile Dealers Association 1705 Old Whitfield Road, Suite A Pearl, Mississippi 39208
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